Weekly wrap: Facebook, Graham Holdings, Ontario Systems

Register now


US M&A Deals Announced May 15 to 21, 2020
Target Acquirer Value ($millions) Synopsis
Cushman-Office Tower Spear Street Capital LLC 210.0 Spear Street Capital LLC acquired trophy office tower, il of Cushman & Wakefield Inc, a San Francisco-based lessor of real estate property, for a total USD 210 mil in cash, in a leveraged buyout transaction.
Hint Inc Revance Therapeutics Inc 150.8 Revance Therapeutics Inc (Revance) definitively agreed to acquire the entire share capital of Hint Inc, a Pleasanton-based software publisher, for a total USD 150.816 mil, in a stock swap transaction. The shares were valued based on Revance's closing stock price of USD 17. 848 on 18 May 2020, the last full trading day prior to the announcement.
Reliva LLC Aurora Cannabis Inc 85.0 Aurora Cannabis Inc of Canada definitievly agreed to acquire the entire share capital of Reliva LLC, a Natick-based manufacturer of medicinals and botanicals, for a total USD 85 mil. The consideration is to consist of USD 40 mil in common shares and up to USD 45 mil in profit-related payments.
Entangled Ventures LLC Guild Education Inc 80.0 Guild Education Inc acquired the entire share capital of Entangled Ventures LLC (Entangled), a San Francisco-based venture capital firm, for an estimated USD 80 mil, in a stock swap transaction. The transaction exclude Entangled's current investments.
JP3 Measurement LLC Flotek Industries Inc 42.8 Flotek Industries Inc acquired JP3 Measurement LLC, an Austin-based software publisher, for a total USD 42. 8 mil. The consideration consisted of USD 25 mil in cash plus USD 11.5 mil in common shares plus USD 1.3 mil in debt and up to USD 5 mil in profit-related payments.
REMY Biosciences Inc Hornby Bay Mineral Exploration 37.1 Hornby Bay Mineral ExplorationLtd of Canada signed a letter of intent to acquire the entire share capital of REMY Biosciences Inc, an Irvine-based drugs merchant wholesaler, for a total USD 37.128 mil, in a stock swap transaction.
CTL Transportation LLC Service Transport Co 9.0 Service Transport Co, a unit of Adams Resources & Energy Inc, definitively agreed to acquire CTL Transportation LLC, an Auburndale-based provider of freight transportation arrangement services, from the bankrupt Comcar Industries Inc (Comcar), for a total USD 9 mil in cash. Originally, Comcar Industries was seeking buyer for its assets.
Behavior Basics Llc Acorn Health Inc Acorn Health Inc acquired Behavior Basics LLC, an Alexandria-based owner and operator of mental health practitioner's office.
Jc Penney Co Inc Amazon.com Inc Amazon.com Inc was rumored to be planning to acquire the entire share capital of the bankrupt JC Penney Co Inc, a Plano-based department store operator.
ActiGraph LLC ArchiMed SAS ArchiMed SAS of France acquired a 75% interest in ActiGraph LLC, a Pensacola-based provider of ambulatory health care services, in a leveraged buyout transaction.
Greenleaf Compassion Ctr Ascend Wellness Holdings LLC Ascend Wellness Holdings LLC definitively agreed to acquire Greenleaf Compassion Center, a Montclair-based retailer.
Century 21 Jack Assoc Berkshire Hathaway Homesvcs Berkshire Hathaway Homeservices Inc, a unit of HomeServices of America Inc, acquired Century 21 Jack Associates, a South Burlington-based real estate agency.
Entrp Info Svcs Llc Cognosante LLC Cognosante LLC acquired Enterprise Information Services LLC, a Vienna-based provider of computer facilities management services.
Tourmaline Partners LLC Copley Eq Partners Llc Copley Equity Partners LLC acquired an undisclosed majority interest in Tourmaline Partners LLC, a Stamford-based investment advisor, in a leveraged buyout transaction. The financial terms of the transaction are not being disclosed.
Jc Penney Co Inc Creditors the bankrupt JC Penney Co Inc (JC), a Plano-based department store operator, planned a debt restructuring transaction with Creditors (CRs). CRs were to receive common shares, in cash and in secured debt in exchange for its outstanding debt. Upon completion, CRs were to hold majority interest in the restructured JC. The book value of the existing debt that was exchanged under the terms of the offer was USD 4. 918 bil.
ProFloors LLC Diverzify Diverzify acquired ProFloors LLC, a Sar.asota-based flooring contractor. Concurrently, Diverzify acquired Lane's Floor Coverings & Interiors Inc.
Lanes Floor Coverings & Diverzify Diverzify acquired Lane's Floor Coverings & Interiors Inc, a New York City-based flooring contractor. Concurrently, Diverzify acquired ProFloors LLC.
Giphy Inc Facebook Inc Facebook Inc acquired Giphy Inc, a New York City-based internet portal operator. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at USD 400 mil.
Framebridge Inc Graham Holdings Co Graham Holdings Co acquired the remaining stake, which it did not already own, in Framebridge Inc, a Washington DC-based custom framing service company.
Citizens Telephone Co Green Hills Telephone Corp Green Hills Telephone Corp (Green Hills) definitively agreed to acquire Citizens Telephone Co, a Higginsville-based wired telecommunications carrier, from Citizens Communications Corp. Concurrently, Green Hills definitively agreed to acquire Citizens Long Distance Co and Citizens Cablevision Inc. Terms were not disclosed.
Citizens Cablevision Inc Green Hills Telephone Corp Green Hills Telephone Corp (Green Hills) definitively agreed to acquire Citizens Cablevision Inc, a Higginsville-based provider of subscription programming services, from Citizens Communications Corp. Concurrently, Green Hills definitively agreed to acquire Citizens Telephone Co and Citizens Long Distance Co. Terms were not disclosed.
Citizens Long Distance Co Green Hills Telephone Corp Green Hills Telephone Corp (Green Hills) definitively agreed to acquire Citizens Long Distance Co, a Higginsville-based wired telecommunications carrier, from Citizens Communications Corp. Concurrently, Green Hills definitively agreed to acquire Citizens Telephone Co and Citizens Cablevision Inc. Terms were not disclosed.
Lashua-Lachance & Poliks Ins Hub International Ltd Hub International Ltd, a unit of Hellman & Friedman LLC, acquired Lashua-LaChance & Poliks Insurance Agency Inc, a Gardner-based insurance agency. Terms of the transaction were not disclosed.
Village of Shiloh-Water System Illinois American Water Co Illinois American Water Co, a unit of American Water Works Co Inc, acquired water system of Village of Shiloh, Illinois, a Shiloh-based city government.
Equis Financial Inc Integrity Marketing Group LLC Integrity Marketing Group LLC, a unit of HGGC LLC, acquired Equis Financial Inc, an Asheville-based insurance agency. The financial terms of the transaction were not disclosed.
Rivet Networks LLC Intel Corp Intel Corp acquired Rivet Networks LLC, an Austin-based provider of computer systems design services. The terms of the acquisition were not disclosed.
Peninsula Airways Inc Investor Group An investor group, comprised of Alaska Seaplane Services LLC and Wexford Capital LP planned to acquire Peninsula Airways Inc, an Anchorage-based provider of air transportation services, from Corvus Airlines Inc.
Korges Entrps Inc Lazydays Holdings Inc Lazydays Holdings Inc acquired Korges Enterprises Inc, a Mesa-based recreational vehicle dealer.
Maines Paper and Food Service Lineage Logistics LLC Lineage Logistics LLC, a unit of Bay Grove Capital LLC, acquired Maines Paper and Food ServiceInc, a Conklin-based cafeteria operator.
Grisanti Capital Mgmt Llc MAI Capital Management LLC MAI Capital Management LLC, a unit of BC Investment Partners LLC, acquired Grisanti Capital Management LLC, a New York-based portfolio manager. Terms were not disclosed.
Lyndwood Executive Center,MD Merritt Properties LLC Merritt Properties LLC acquired Lyndwood Executive Center, lessor of nonresidential buildings.
Metuchen Pharmaceuticals LLC Neurotrope Inc Neurotrope Inc (Neurotrope) definitively agreed to merge with Metuchen Pharmaceuticals LLC (Metuchen) , a Manalapan-based manufacturer of pharmaceutical preparation, in a stock swap reverse takeover transaction. Upon completion, Neurotrope and Metuchen shareholders were to own 20% and 80%, respectively, of the merged entity.
Palo Verde Llc Nutritional High Intl Inc Nutritional High International Inc of Canada signed a purchase agreement to acquire the entire share capital of Palo Verde LLC, a Pueblo West-based manufacturer of medicinals and botanicals.
SIB Fixed Cost Reduction LLC O2 Investment Partners LLC O2 Investment Partners LLC acquired SIB Fixed Cost Reduction LLC, a Charleston-based provider of management consulting services, in a leveraged buyout transaction.
Physera Inc Omada Health Inc Omada Health Inc acquired Physera Inc, a San Francisco-based musculoskeletal care company that delivers interventions digitally and via telehealth.
SwervePay LLC Ontario Systems LLC Ontario Systems LLC, a unit of New Mountain Capital LLC, acquired SwervePay LLC, a Lake Villa-based developer of patient platform software.
naviHealth Inc OptumHealth Inc OptumHealth Inc, jointly owned by Optum Inc and UnitedHealth Group Inc, acquired naviHealth Inc, a Brentwood-based software publisher, from Clayton Dubilier & Rice LLC, ultimately owned by Clayton Dubilier & Rice Holdings LP. The terms of the transaction were not disclosed, but according to sources close to the transaction, the value was estimated at USD 1 bil.
Prime Care Hospice Pennant Grp Inc Pennant Group Inc acquired Prime Care Hospice, a Phoenix-based provider of home health care services. Concurrently, Pennant Group Inc acquired Harmony Hospice.
Harmony Hospice Pennant Grp Inc Pennant Group Inc acquired Harmony Hospice, a Tucson-based provider of home health care services. Concurrently, Pennant Group Inc acquired Prime Care Hospice.
TUNE Inc Perseus Operating Group Perseus Operating Group of Canada, a unit of Constellation Software Inc, acquired TUNE Inc, a Seattle-based software publisher.
CCal Care IPA-Certain Assets Prospect Medical Group Inc Prospect Medical Group Inc, a unit of Prospect Medical Holdings Inc, planned to acquire certain assets of Cal Care IPA, a Corona-based professional organization. The transaction was to include certain assets of Los Angeles Medical Center IPA.
Arctic MSP Inc Saalex Info Tech Inc Saalex Information Technology Inc, a unit of Saalex Corp, acquired Arctic MSP Inc, an Eugene-based provider of computer related services. Financial terms were not disclosed.
Maines Food & Party Warehouse Schiff's Restaurant Services Schiff's Restaurant Services Inc acquired Maines Food & Party Warehouse, a Greece-based meat retailer.
JC Penney Co-Real Estate Div Shareholders The bankrupt JC Penney Co Inc planned to spin off its real estate division to its shareholders.
Co Six Shareholders Sphero Inc completed a spin off of Co Six, a Boulder-based robotic and cloud technology company, to its shareholders.
Invenergy Llc-13th Wind Southern Power Co Southern Power Co, a unit of Southern Co, acquired 13th Wind Project of Invenergy Llc, a Chicago-based electric power generation facility operator.
Huntington Internal Medicine St Mary's Medical Center St Mary's Medical Center planned to acquire Huntington Internal Medicine Group, a Huntington-based physician's office operator.
Specialty Bakers-Baking Plant The Bakery Cos The Bakery Cos acquired baking plant assets,ga of Specialty Bakers LLC, a Marysville-based commercial bakery. The financial terms of the transaction were not disclosed.
Time Rack Inc Timecentric Inc Timecentric Inc acquired Time Rack Inc, a Corona-based developer of time and labor management software.
Argus Technology Partners Inc Xalles Technology Inc Xalles Technology Inc, a unit of Xalles Holdings Inc, agreed to acquire the entire share capital of Argus Technology Partners Inc, a Pensacola-based provider of technology services, for an undisclosed amount in profit- related payments.
Refraction Technology Inc Xeos Technologies Inc Xeos Technologies Inc of Canada acquired Refraction Technology Inc, a Plano-based manufacturer of measuring and controlling devices, from Trimble Inc. Terms were not disclosed.